• Miners sold approximately 3,000 BTC in late July, reducing their holdings from 1.80980 million to 1.80698 million BTC• This reflects a strategic improvement rather than hysterical selling
• Decrease in miner revenues
Main catalysts
• Technical pressure: Mining difficulty reached 127.6T ATH with block time of 10 minutes and 20 seconds; a 3% decrease is expected on August 9
• Price drop: BTC fell from ATH at $123K to $114K, affecting profitability
• Large holders: wallets containing 1,000+ BTC sold a total of 13,800 BTC (July 26-29)
• Difficulty adjustment | Theft from mining pool
Trading opportunities
• Current price: $113,900 with resistance at $118K
• The Relative Strength Index (RSI) is approaching the oversold territory, indicating a potential rebound
• Consider DCA strategies during the downturn
• Monitor institutional entry into ETF funds as a potential balancing factor for miner selling
• Pay attention to the $112K-$110K range as key support levels if selling continues
Despite the negative sentiment (44.9%), the fundamentals surrounding the Bitcoin halving remain strong. Traders should balance miner behavior with broader demand dynamics.#BinanceHerYerde #MarketPullback #TrumpTariffs #BNBATH #EarnFreeCrypto2024 $BTC
